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1. Is Grindwell Norton Ltd a good quality company?
Past 10 year's financial track record analysis by Moneyworks4me indicates that Grindwell Norton Ltd is a good quality company.
2. Is Grindwell Norton Ltd undervalued or overvalued?
The key valuation ratios of Grindwell Norton Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
3. Is Grindwell Norton Ltd a good buy now?
The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Grindwell Norton Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
Value Creation ⓘValue Creation Index Colour Code Guide ⓘ |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar'13 | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | TTM | |||
| ROCE % ⓘ | 19.9% | 15.2% | 16.8% | 14.3% | 14.1% | 15.8% | 15.6% | 15.8% | 19.5% | 20% | - | ||
| Value Creation Index ⓘ | 0.4 | 0.1 | 0.2 | 0.0 | 0.0 | 0.2 | 0.2 | 0.2 | 0.4 | 0.5 | - | ||
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ |
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| Sales ⓘ | 945 | 942 | 1,110 | 1,126 | 1,236 | 1,405 | 1,567 | 1,552 | 1,633 | 2,006 | 2,353 | ||
| YoY Gr. Rt. % | - | -0.4% | 17.9% | 1.4% | 9.8% | 13.7% | 11.5% | -0.9% | 5.2% | 22.8% | - | ||
| Adj EPS ⓘ | 8.8 | 7.4 | 8.9 | 8.9 | 10.5 | 13.3 | 14.5 | 15.9 | 22.1 | 26.1 | 31.7 | ||
| YoY Gr. Rt. % | - | -16.1% | 20.4% | -0.5% | 18.3% | 27.1% | 8.9% | 9.5% | 38.9% | 18.1% | - | ||
| BVPS (₹) ⓘ | 46.7 | 50.4 | 55.4 | 68.3 | 79.7 | 88.1 | 97.4 | 105.3 | 121.5 | 139.9 | 161.3 | ||
| Adj Net Profit ⓘ | 97.7 | 81.9 | 98.6 | 98.3 | 116 | 148 | 161 | 176 | 244 | 289 | 351 | ||
| Cash Flow from Ops. ⓘ | 101 | 96.1 | 98.1 | 131 | 161 | 124 | 81.9 | 307 | 331 | 186 | - | ||
| Debt/CF from Ops. ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - | ||
CAGR ⓘCAGR Colour Code Guide ⓘ |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 9 Years | 5 Years | 3 Years | 1 Years | |||||||||
| Sales ⓘ | 8.7% | 10.2% | 8.6% | 22.8% | ||||||||
| Adj EPS ⓘ | 12.8% | 20% | 21.5% | 18.1% | ||||||||
| BVPS ⓘ | 13 | 11.9 | 12.9 | 15.2 | ||||||||
| Share Price | 32.8% | 33.4% | 59.3% | 21.5% | ||||||||
Key Financial Parameters ⓘPerformance Ratio Colour Code Guide ⓘ |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar'13 | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | TTM | ||
| Return on Equity % ⓘ | 19.8 | 15.1 | 16.7 | 14.3 | 14.1 | 15.8 | 15.5 | 15.6 | 19.3 | 19.8 | 21 | |
| Op. Profit Mgn % ⓘ | 15.2 | 14 | 14.8 | 15 | 14.6 | 16.9 | 16.6 | 16.2 | 19.8 | 20 | 20.4 | |
| Net Profit Mgn % ⓘ | 10.3 | 8.7 | 8.9 | 8.7 | 9.4 | 10.5 | 10.3 | 11.3 | 15 | 14.4 | 14.9 | |
| Debt to Equity ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Working Cap Days ⓘ | 111 | 113 | 112 | 129 | 121 | 122 | 133 | 141 | 131 | 129 | 193 | |
| Cash Conv. Cycle ⓘ | 58 | 60 | 60 | 73 | 54 | 42 | 57 | 59 | 32 | 32 | 125 | |
Return on Equity has increased versus last 3 years average to 21.00%
Net Profit is growing at healthy rate in last 3 years 21.54%
Sales growth is good in last 4 quarters at 18.85%
Sales growth has been subdued in last 3 years 8.58%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 31.7 | 32.7 |
| TTM Sales (₹ Cr.) | 2,353 | 2,525 |
| BVPS (₹.) ⓘ | 161.3 | 163.8 |
| Reserves (₹ Cr.) ⓘ | 1,730 | 1,758 |
| P/BV ⓘ | 13.24 | 13.06 |
| PE ⓘ | 67.40 | 65.44 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 1452.80 / 2325.00 |
| All Time Low / High (₹) | 2.50 / 2325.00 |
| Market Cap (₹ Cr.) | 23,635 |
| Equity (₹ Cr.) | 55.4 |
| Face Value (₹) | 5 |
| Industry PE ⓘ | 66.8 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Grindwell Norton (GNO), a company listed on the Bombay and National Stock Exchanges, pioneered the manufacture of grinding wheels in India in 1941. In 1990, Saint-Gobain acquired Norton Company, USA, worldwide and thereby became a shareholder in GNO. In 1996, Saint-Gobain increased its equity stake, making GNO its first majority-owned subsidiary in India.
Presently, GNO’s businesses include: Abrasives, Ceramic Materials Businesses (Silicon Carbide and Performance Ceramics & Refractories), Performance Plastics and ADFORS. The Saint-Gobain Country Head office, INDEC (the captive India IT Development Centre for the Saint-Gobain Group globally) and CertainTeed are also part of GNO. GNO’s subsidiary, Saint-Gobain Ceramic Materials Bhutan Pvt. Ltd., manufactures Silicon Carbide. The Group currently holds 51.66% of the equity capital of GNO.
Business area of the company
Abrasives Business: GNO’s Abrasives Business, markets and manufactures a full range of Bonded Abrasives, Coated Abrasives (including Non-woven Abrasives), Thin Wheels and Superabrasives at its plants near Mumbai, Bangalore, Nagpur and Himachal Pradesh.
Ceramics Business: The Performance Ceramics & Refractories (PCR) business offers complete solutions with expertise in design, engineering and manufacturing refractory systems for high temperature, ballistic and wear applications. The HPR plants are located in Bangalore and Halol (Gujarat). The Silicon Carbide business manufactures Silicon Carbide crude and grains at Tirupati (Andhra Pradesh) and near Phuentsholing (Bhutan) and is a major supplier to all leading Refractory, Metallurgy and Abrasives manufacturers in India.
Other Businesses: GNO’s other businesses include: CertainTeed (subsidiary of Saint-Gobain) and INDEC (the captive India IT Development Centre for the Saint-Gobain Group globally).
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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